In South Korea, LG Chem and Eni subsidiary Enilive have signed a joint venture agreement for a new biorefinery at Daesan. The two first announced that they were evaluating a biorefinery project in September last year, and formation of a JV is the next step toward a final investment decision.
The facility would process about 400,000 tons of biobased annually using Eni’s Ecofining™ technology. Products would include sustainable aviation fuel, hydrotreated vegetable oil, and bio-naphtha.
“Biofuel production is one of the main pillars of our strategy to contribute to reach net zero emissions by 2050 also through the sale of increasingly decarbonized products to our clients,” Eni CEO Claudio Descalzi said in a press statement. “The biorefinery project we are working on together with LG Chem is a key element to expand Enilive biorefining presence internationally, to raise its capacity from current 1.65 million tons/year to over 5 million tons/year by 2030 and to increase the optionality of SAF production to up to 2 million tons/year from 2030.”